Picton Mahoney Asset Management Takes Position in Quanterix Co. (NASDAQ:QTRX)

Picton Mahoney Asset Management purchased a new position in Quanterix Co. (NASDAQ:QTRX) in the fourth quarter, Holdings Channel reports. The fund purchased 5,070 shares of the company’s stock, valued at approximately $139,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QTRX. Lord Abbett & CO. LLC bought a new position in Quanterix in the third quarter worth about $27,744,000. Invesco Ltd. grew its stake in Quanterix by 49.6% during the 3rd quarter. Invesco Ltd. now owns 1,103,981 shares of the company’s stock worth $29,962,000 after buying an additional 366,117 shares during the last quarter. Mckinley Capital Management LLC acquired a new stake in Quanterix in the third quarter worth $2,215,000. Boone Capital Management LLC lifted its stake in Quanterix by 13.4% in the third quarter. Boone Capital Management LLC now owns 568,544 shares of the company’s stock valued at $15,430,000 after buying an additional 67,400 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its holdings in shares of Quanterix by 138.7% during the third quarter. ClariVest Asset Management LLC now owns 97,187 shares of the company’s stock valued at $2,638,000 after acquiring an additional 56,466 shares during the period. 86.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Quanterix

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total value of $36,525.00. Following the transaction, the director now directly owns 15,238 shares of the company’s stock, valued at approximately $371,045.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QTRX. Scotiabank increased their price objective on shares of Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Monday, March 4th. Canaccord Genuity Group cut their price target on Quanterix from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $30.60.

Quanterix Trading Up 3.7 %

NASDAQ QTRX opened at $17.12 on Friday. Quanterix Co. has a 1 year low of $14.26 and a 1 year high of $29.70. The company has a market cap of $654.79 million, a PE ratio of -19.91 and a beta of 1.41. The stock’s 50-day moving average price is $21.23 and its two-hundred day moving average price is $23.05.

Quanterix (NASDAQ:QTRX) last released its earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. The business had revenue of $31.55 million during the quarter, compared to analysts’ expectations of $27.92 million. Research analysts forecast that Quanterix Co. will post -1.04 EPS for the current fiscal year.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.